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Energy Transfer Partners, L.P. Message Board

  • dmgeorge1 dmgeorge1 Mar 14, 2013 6:39 PM Flag

    K-1 What's up?

    Received my K-1 for ETP today. It says not to use Part III of the form but to use the Supplemental K-1 Information Statement.
    I understand the supplemental information for Part III but what about Part I and II?
    I see the FEIN number for each of the other two partnerships but no information beyond that. Nothing for Part I B, C and D. nothing for anything in Part II.
    Any thoughts on how this is handled? I use Turbo Tax and have not had any issues with K-1s in the past but this is new ground for me.

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    • The part II data only apply to ETP as you only own ETP units. Create a separate K-1 for each of the subsidiary companies and title the K-1 for APU, SXL, ect as "Amerigas Partners LP ref ETP". That way you know that information is referenced to ETP. As to part I data - you only need the name and tax ID number. The address goes nowhere. It is only for your personal use.

    • I started working on mine this morning, total time to finish (with distractions) less than an hour. I use Turbo Tax and this is the most dificult K1 I have ever done, or should I say the most difficult three K1s I have ever done. As I see it you must fill out separate K1s for ETP, SXL, APU. Turbo Tax is great but I am finding that I am leaving many of the questions blank. I have found this to work best if it is not clear on the K1. When I get questioned by the IRS I just send them a letter saying "how the hell can I understand this, here is the copy of the K1". Let them deal with it, worked well in the past.

      • 1 Reply to mac94921
      • Whoah - now I am really confused. I got my K-1's from ETP - OK got that. I only own units / shares in ETP. Then, why do I have to look at the SXL and APU data as well.

        Next, I am using TurboTax as well - but do I need to fill out a K-1 or use the K-1's to fill out a Schedule E.

        This is my first year of owning ETP and I am quite baffled. For starters; can anyone tell me which forms that I am supposed to use.

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